Kefi Gold And Copper Share Discussion Threads

[goatherd] 10/3/2020 13:00

The real problem with AIM is that it really does not fulfill the purpose of a Stock Exchange.

A Stock Exchange is meant to provide a place where companies can raise money from individuals or institutions.

But our Aunty-state lays down a mass of rules which have to be met before a share issue can be offered to the public. This is, of course, with the best of intentions of protecting the public. However it is very expensive, (together with the high cost of underwriting) so companies finance themselves by private offerings to institutions - and, all too often with small AIM companies like KEFI, the death spiral boys are the only ones interested.

[robjm66] 10/3/2020 12:38

Lots of the mining companies topical if you do a bit of digging (excuse the pun) you find directors are on the board of about a half dozen different other mining companies we are obviously privileged that Harry dedicates all his time to Kefi ;-)

With skin in the game lots of Kefi people including Harry taking wages in shares so they have plenty of skin in the game that's before them wanting a price in excess of two pence before end of April to exercise warrants.

[topicel] 10/3/2020 12:17

Like the politicians, eh Rob? Très nécessaires!

As for Harry, we could say he has history of running to the next company, said company having tried Turkey, Morocco and other outposts before settling on TK which they didn't find themselves but were opportunistic - some opportunity, eh?!

If it is just a matter of value creation to wages, he will be in good company I'm sure, although some here argue he HAS created value per se.

All I know is he is paid rather handsomely for not delivering SHAREHOLDER value in investment terms - i.e. increasing share price. His pay has dwarfed his own purchase of shares, so he hasn't skin in the game as many of us poor sods in anything like the same way. He receives no end of expenses for sure, so all his earnings go to Cyprus as he has nothing to pay for if he's working 24/7 as we sure hope he is...

Of course, there are all those other guys on gardening leave I keep asking about. It is why we have to see ANS monies before he is worth any increment for sure, wouldn't you say? Can that be put at an AGM or whatever?

Milestones and targets are very much the norm in most businesses, maybe not AIM though! And finally, an easy comparison is perhaps what he could be earning if his skillset was advertised. What is he, an accountant by trade? Ex-investment manager? There is often a species that were not very good at their qualified skill and other modern day requirements that an employer would seek (shall we say comms, lol?), and they find a small company to offer their services and once 'in' are hard to remove whatever their abilities.

I would suggest Harry would cost a small fortune to be extricated from little old Kefi. He may have inserted, for example, a 'key person' sub-clause in the dealings with ANS and others that provide he must be involved...

Topicel

[scrappycat] 10/3/2020 10:53

Topicel,

I admire your optimism re oil, but I think it is misplaced, The Saudis have enormous oil reserves, that they will be keen to offload, for I am sure they are well (not a pun) aware of the threat that 'Green Technology' offers. They know it is coming via wind farms, fuel cells, solar farms, Hydrogen etc. and it is unstoppable.

I agree that the short haul carriers, such as Easyjet, will benefit from low oil prices, but the future for long haul, with its reliance on business customers for profits, is bleak. The virus will surely lead to the virtually universal use of Internet conferencing, and this transition is, IMO, unlikely to revert to anywhere near pre virus levels.

Just my thoughts, of course. No advice intended.

[goatherd] 10/3/2020 10:47

Well go ahead and do it Cybaajak, nothing to stop you.

But, before you start, you might like to think what you would do with the information - and whether that would do you any good.

[cybaajak] 10/3/2020 10:22

@ robjm66. All good points, including a couple of tangents I hadn't considered.

My own personal opinion is the Chair and BoD of Kefi are vastly overpaid. Several remarks on here show some others are of the same (or similar) opinions. Last year, Jan 1st 2019 to December 31st 2019, Adams received in excess of 340k in wages alone. That figure is not in dispute as it showed up in July 2019 on the Companies Annual Report FOR 2018 and there has been no communiques that he & the BoD have taken a pay cut.. IF the warrants issued earlier this year actually mature they won't show until MID 2021 for Kefi Annual Report 2020. Maybe it was timing.. Maybe fortuitous coincidence, the GM was called for 6th January (..Not sure) so as to by pass the shocking lack of progress and horrendous dilution for 2019. At this stage, and after last fridays revelations on no,and delayed, progress I'm kinda incensed that while Adams gets shares in lieu of SOME of his wages, WE only know what he was getting in 2018. We WON'T know what he got in 2019 until July. Renumeration SHOULD be on progress and AWARDS should be on top for jobs done well.

I'd like some comparisons with other Aim Companies Chairs and BoDs to see if the wages are fair and reasonable.

[robjm66] 10/3/2020 09:55

Cybaajak well if you are putting Kefi in a category probably explorer developer is more accurate than pure explorer.

However playing by your rules and saying it is a pure explorer doubt there is any exploration company active in both Ethiopia and KSA even if am wrong which is possible to be comparable they would have to have the same size areas to explore in the future and number of exploration areas under application to explore and several discoveries made of viable areas to develop in both countries.

Any other mining company got that?

[scrappycat] 10/3/2020 08:20

Topicel


When will you get it into your head, that I am aware of the history, but I simply do not care when Harry did/said this, the EG did/said that, and the ANS did/said whatever. In my opinion, we (PIs) have insufficient detail from the RNSs to conclude anything with absolute certainty, and I suspect Harry is in the same boat, and has acted in good faith.

Long ago, I concluded that Kefi no longer controlled the project. and that the EG/ANS did. This does not alarm me as much as it might some who post here, for I believe, from their various publicised comments, that the EG/ANS like and trust Harry sufficiently to make him their flag bearer for mining operations in Ethiopia. Hence, I also believe, the mine will open, despite the possibility of further dilution.

Life is too short to get agitated over such things, IMO. Nuff said from my point of view.

[mab] 10/3/2020 08:02

Topicel
Harry said that it's the major banks who are financing that have shifted timeframes not ANS. just like any other country where major decisions are delayed to after elections, and probably more so in a frontier country like ethiopia.

[cybaajak] 10/3/2020 07:08

Question for the posters here on this BB.

In your opinion, which company(s) currently on AIM or AUS stock exchange does Kefi mostly align with on an equal or par setting?

Please don't use Gold Production as a benchmark as Kefi is definitely not in that bracket. Indeed, according to the esteemed Chair in charge of this Company ( /s) , Kefi is clearly and firmly fixed in the 'Exploration' side of things.

Near Term Viability, Market Cap, Employment Numbers, Current Operations, Explorations and Global Footprint can all be used but please explain the rationale for your opinion in your answers.

Not much to do in the next few weeks (No, before you ask) so was intending investigating what other Chairs and BoD renumeration packages on a comparison scale are used.

[space_bob] 10/3/2020 01:10

Wise words Topical. Not so sure on the Easyjet tip, but towards the end of March when the OPEC agreement ends, I can see a new agreement being made and the oil price shooting back up. BP & Shell are quite diversified nowadays and in many places are paid for production rather than the oil price, so if we see further drops they could be the bargain of the decade. They're probably a bargain now, but I can see them falling further so I'm keeping my power dry.
Back to Kefi, I still have shares in other gold miners, including in some companies with no debt, no hedges and already taking gold out of the ground. These have seen drops over the last few weeks and also stand out as a bargain as I think we'll see $2k gold by the end of the year.
If Kefi ever manage to actually mine (which I doubt), then it will be years a way and only after jumping many many more hurdles which will screw early investors. By then, gold will probably be back to lows.

[topicel] 09/3/2020 22:05

Marnewton, good idea.

He will also say do not stick with paper gold, as just about every other FIAT asset. And especially not one with a 2-year lead time at least before any of the shiny stuff is in our clammy hands.

But then those clammy hands might just be some other reason...

Or not, and it goes away and people buy the genuine bargains like BP/Shell/Easyjet who are ripe for the picking if you drip-feed your cash. AIM is madness when all those and others are so crippled.

You won't catch the bottom but buy once a week and you will be fine in six months. More than we will be as those pesky elections won't have been finished - and just maybe our Nobel Prize winner doesn't win. Where would you go with your cash on the sidelines, beat up quality shares with dividends or ...

Topicel

[marnewton] 09/3/2020 19:48

Jim Mellon, today...

"As advised, this coronavirus has morphed into an excuse for markets to take the biggest swoon in my decades-long experience...

What I suggest investors do now is: 1. Stick with gold and silver. Going higher."

M

[mab] 09/3/2020 18:27

Think the election date was moved mid jan and as a result the banks shifted the debt financing. Both really out of harrys control...

[scrappycat] 09/3/2020 17:01

Topicel,

No idea. I suggest you ask the EG. They are in charge of when a General Election is called afaiaa. If they wish to change their mind, so be it. If they wish to change the ground rules, what choice do Kefi have but to follow, like Alice, the yellow gold road.

[goatherd] 09/3/2020 16:38

Tops,

If you are bothered about it what have you done to find out? (Apart from asking the question here!)

[topicel] 09/3/2020 16:35

Wait until it gets to Ethiopia after all the other nations' have had it Marnewton!

Centered on TK district with security implications because they'll all have cleared off. They were always friendly with the Italians after all, they even had a dig around our parts once ;)

Topicel

[marnewton] 09/3/2020 16:30

Good to see all you ol' folk self isolating;)

M

[scrappycat] 09/3/2020 15:57

As with the UK, I imagine in the EG the decision to hold, and the date for, a General Election would be decided by the Cabinet, and the date then generally publicised. I see no reason why Harry should/would have been involved with this, and, it seems likely to me, that he first knew about it was when the date was publicised. He would then, presumably, have to find out what, if any, complications there would be for Kefi from the EG and the ANS. Who knows when they fully clarified this?

[shortarm] 09/3/2020 15:50

You're right, Harry should plan his country elections better!Chopper!